Of the scammers behind the Zhunrize Ponzi scheme, solely Todd Spencer stays as an energetic defendant.
Spencer was sued by the Zhunrize Receiver, as part of a $2.8 million clawback lawsuit filed in the direction of Vodaware.
Through Vodaware, Spencer is believed to have obtained upwards of $350,000 in stolen Zhunrize investor funds.
In a Standing Report filed on January twenty second, the Zhunrize Receiver has briefed the courtroom on the current case standing.
With Zhunrize declared a Ponzi scheme and all completely different defendants throughout the Vodaware lawsuit having settled (two firm defendants had default entered in the direction of them), Spencer’s chances of worthwhile at trial are slim to none.
To that end on January seventeenth, Spencer’s authorized skilled educated the Receiver that he
was working in the direction of gathering funds to satisfy the Receiver’s earlier settlement present amount.
As of January twenty second nonetheless, Spencer has failed to attain a settlement settlement with the Receiver.
There are moreover wonderful discovery factors pertaining to requested responses and manufacturing of paperwork.
The Receiver served Spencer with two wonderful discovery requests in mid 2018 and, no matter repeated assurances by Spencer’s authorized skilled regarding a response, to date has not obtained one thing.
The Receiver’s Standing Report ends alongside together with his intention to file a motion to compel if Spencer’s discovery won’t be effectively timed served.
With out realizing what it is the Receiver has requested from Spencer I can’t say for sure, nonetheless seems to me the one trigger Spencer wouldn’t produce requested discovery is that if it revealed he obtained further through Zhunrize than initially thought.
Pure speculation on my half nonetheless solely a hunch. It moreover explains why impulsively Spencer is raring to settle.
Hold tuned…
Exchange sixteenth Might 2019 – Todd Spencer has reached a clawback settlement with the Zhunrize Receiver.